Eurex cuts some fees in push for London’s euro-clearing crown

Swaps clearing has emerged as a key Brexit battleground, with German-owned exchange Eurex taking on London-based LCH’s dominance of the market

By

Samuel Agini

Updated: September 9, 2019 4:04 pm GMT

Deutsche Börse has launched its latest attempt to lure euro-denominated swaps processing away from the London Stock Exchange, with the German exchange seeking to exploit Brexit at the UK’s expense.

Eurex Clearing, the Frankfurt-based exchange’s clearing house, said on September 9 it has removed fees for moving portfolios of swaps, which are used to hedge the risk of fluctuating interest rates, from London to the EU.